The latest edition of the Fortune Global 500 list, which ranks companies by their revenues in 2016, has a distinctly Asian flavour to it.

With 197 companies on the list based on its soil, Asia is now home to more of these global giants than any other continent, leaving North America (145) and Europe (143) slugging it out for second spot. The rest of the world has a mere 15 companies on the list.

The US continues to have the largest presence on the elite list with 132 firms, but China is not too far behind at 109 and is leading the Asian drive to the top. Japan, with 51, is in third spot; South Korea has 15 while India has seven. Only one of the seven Indian companies is in the top 200 —Indian Oil, ranked 168th.